China is investing US$278m in a new timber processing operation in Russia’s Far East.
The project, the largest of its kind by Chinese enterprises in the region, will have a lumber capacity of two million m3 per year, providing 300,000m3 of timber and 400,000m3 tonnes of paper pulp.
The investment in the Chita region, to be completed in 2008, will be undertaken by three companies, Heilongjiang Star Paper Co Ltd, Zhuhai Zhenrong Company and Heilongjiang Huacheng International Economic & Technological Co-operation Co Ltd.
China’s Heilongjiang province is the major co-operative partner with Russia in developing forest resources. Enterprises from Heilongjiang processed 700,000m3 of wood in the the Far East last year.
